China Biologic Products Receives Acquisition Proposal From Consortium

China Biologic Products Holdings, Inc. (CBPO) announced its board has received an unsolicited, preliminary non-binding proposal letter from a consortium consisting of Feng Tai Global Limited, a company beneficially owned by David (Xiaoying) Gao, the former Chairman and CEO of the company, GL Sandrose Investment L.P., World Investments Limited and CDH Utopia Limited to acquire all of the outstanding shares of the company not already owned by the consortium for $118 per share in cash.

The company previously announced its receipt of the unsolicited, preliminary non-binding proposal letter from CCRE Holdings Limited to acquire all of the outstanding shares of the company for $110 per share in cash.

The Board of China Biologic Products cautioned the company's shareholders and others considering trading in the company's securities that the Board is reviewing and evaluating the Consortium proposal and the CITIC proposal and no decisions have been made.

Apple Inc. is taking necessary precautions including Covid-19 testing for those employees returning to work at its headquarters in Silicon Valley, Bloomberg reported citing people familiar with the process. The company, which opened its main Apple Park office in May bringing back some hardware and software engineers, plans the gradual reopening of the building keeping the coronavirus safeguards.

A U.S. appeals court has blocked the sales of Bayer AG's dicamba-based Xtendimax in the United States. The three-judge panel in the U.S. Court of Appeals for the Ninth Circuit ruled that the US Environmental Protection Agency (EPA) overstated the protections and substantially understated or ignored the risks related to the use of dicamba-based herbicides.

Tesla Chief Executive Officer Elon Musk has called for a breakup of Amazon after the online retail giant refused to publish an upcoming book about COVID-19. Writer Alex Berenson said on Twitter that Amazon refused to publish his booklet about the coronavirus as it did not comply with the company's guidelines. Berenson is a former New York Times reporter.